| Study Period | 2019 - 2032 |
| 2024 Market Size | USD 16.5 billion |
| 2025 Market Size | USD 18.0 billion |
| 2032 Forecast | USD 35.5 billion |
| Growth Rate (CAGR) | 10.2% |
| Largest Payment Method | Digital Wallets |
| Fastest Growing Business Model | Hybrid |
| Nature of the Market | Fragmented |
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The Vietnamese e-commerce market size was USD 16.5 billion in 2024, and it will grow by 10.2% during 2025-2032, to reach USD 35.5 billion by 2032.
The market is driven by the easy access to the internet, high level of smartphone access, and extensive use of digital transactions. Young and tech-savvy consumers, especially Gen Z, are actively participating in mobile and social commerce, helping marketplaces such as Lazada, Tiki, and Shopee thrive. The resulting intense competition leads to advanced offerings, efforts to transform the user experience, and upgraded the delivery networks. As per reports, TikTok has captured 23% of the social commerce market in Vietnam.
The increase in the rate of urbanization and the growth of the middle class with improved income have shifted preferences toward comfortable and user-friendly e-commerce platforms. According to the World Bank, around 39% of the country’s population lives in cities, which leads to a high traffic on online shopping platforms. The Government of Vietnam targets 50% cashless payments for online shopping by the end of 2025.
The electronics category held the largest market share, of 35%, in 2024 due to the rising demand for laptops, cellphones, and home appliances. This is credited to the fast urbanization, enhanced digital awareness, and more income. Online channels provide a variety of products at an affordable price, driving more people to shop online.
The grocery & essentials category will have the highest CAGR due to the rising need for same-day/next-day delivery for such products. Further, the improving supply networks and expanding e-commerce presence in tier 2 and tier 3 cities drive the market in this category. The increasing awareness of health and the availability of personalized recommendations through AI-driven systems lead consumers to look for hygiene-focused and organic products.
The products analyzed in this report are:
The business-to-consumer category held the largest market share, of 70% in 2024, driven by the ease, great variety, and reasonably priced offerings of FMGC, beauty, and fashion products on online shopping websites. Around 90% of the Vietnamese e-commerce activity is contributed by companies such as Shopee, Lazada, and TikHub.
The business-to-business category will have the highest CAGR because of the global trade agreements, such as EVFTA and RCEP; lower customs taxes, and enhancement of international trade flows. Alibaba is expanding and increasing its presence in the market.
The platforms analyzed in this report are:
The digital wallets category held the largest market share, of 45%, in 2024, due to its convenience, mass uptake of mobile technology, user-friendliness, and integration with services including MoMo, ShopeePay, and ZaloPay. As per reports, around 36% of the consumers use digital wallets for e-commerce transactions.
The BNPL category will have the highest CAGR, of 11.2%, due to the growing demand for flexible transactions and low penetration of traditional credit cards. The category allows consumers to pay via convenient plans, which makes it easier for the customer to spend within budget.
The payment methods analyzed in this report are:
The marketplace category held the largest market share, of 70% in 2024, due to its increasing number of customers, low operating costs, and the growth of social commerce channels, such as TikTok. Platforms such as Shopee and Tiki follow this business model, creating a connection between sellers and buyers. As per the reports, around 58% of the consumers shop online.
The hybrid category will have the highest CAGR, 10.9%, due to the rising demand for faster delivery, better quality, and flexibility. The advanced logistics capabilities of this model help companies enhance customers’ shopping experience.
The business models analyzed in this report are:
The standard category held the largest market share, of 60% in 2024, due to its strong structure, broad availability, and cost-effectiveness across many platforms. This category offers scalability, which supports the standard courier services, and is an effective solution for e-commerce platforms. As per reports, around 69% of the companies use standard delivery methods.
The same-day/next-day category will have the highest CAGR due to the increasing consumer demand for more-convenient services and quick delivery. The digital advancements in logistics, such as AI-driven efficient delivery operations, and collaboration with a local courier network, also propel this category. Tiki provides fast deliveries by using local warehouses.
The delivery times analyzed in this report are:
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The market is semi-consolidated, due to the strong marketing initiatives, cost-effective pricing models, effective distribution networks, and high mobile-first user experience. Platforms such as Shopee and TikTok Shop hold large shares, along with a few other players holding a significant share. The Lazada, Tiki, and Sendo Farm meet the demands of particular niche segments, such as electronics and groceries. The rise of international platforms and social commerce, such as Facebook, Zalo, and Instagram, expands the market by introducing new competitive players.
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